Alternative Uses for Hotels – An International Perspective on Returning to a Traditional Hotel (Part 2)

May 22, 2024 – Episode 45
Herrick Does That

Hotels have always been used for non-traditional stays. Converting hotels leverages existing infrastructure and minimizes cost and time required for construction or setup of emergency housing of all types. In recent years, this usage is more prevalent to the general public due to the recent global pandemic and housing of essential workers, the infirm and recovering, as well as the recent need to support migrants, the unhoused and refugees. But what happens to the property when owners and operators want to go back to traditional usage? Listen as Herrick partner and chair of the Real Estate Hospitality group, Yariv Ben-Ari, discusses what’s next for these hotels with Yaron Ashkenazi, CEO of Caliber Hospitality Trust, and Jonathan Falik, CEO at JF Capital Advisors. In Part 2 of this two-part series, they discuss what renovation and restoration looks like, choosing a brand partner and how that decision is key to how successful the property can be.